Fraser Valley home buyers remain cautious in April as supply continues to build
FRASER VALLEY — The Fraser Valley Real Estate Board says home buyers remain somewhat hesitant as the supply of available homes for sale keeps building.
According to a news release from the real estate association representing realtors from Abbotsford to White Rock, buyers throughout the Fraser Valley are not necessarily taking the plunge, leading to a cooler resale market in April 2024.
The Fraser Valley Real Estate Board recorded 1,471 transactions on its Multiple Listings Service in April, up 5 per cent from March, but off by 5 per cent compared to April 2023.
While sales of home were the third lowest recorded for an April in the last decade, inventory continues to build, reaching levels not seen since September 2020. Active listings were 7,313, up by 18 per cent over last month and 17 per cent above the 10-year average.